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JC Penney Is Ripping Higher

Mamta BadkarFeb 27, 2014, 21:26 IST

REUTERS/Brendan McDermid

JC Penney is up 21% to $7.21 per share.

After the closing bell on Wednesday, the department store chain delivered its first quarterly net profit since July 2011. Net income came in at $35 million or $0.11 per share.

But it reported a Q4 adjusted loss of $0.68 per share.

"The most challenging parts of the turnaround are behind us," CEO Mike Ullman said in the press release.

Here's a look at the five-day chart that shows the stock ripping higher.

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